Offshore Savings Account

socrates

My father is looking for a good return coupled with safety on his savings.

He lives in Cyprus and wants an offshore account.

The amount is in excess of £500k

Not just looking for the best rate - but also a solid company (if such a thing exists)

Any ideas or experiences?

97trophy

Alliance & Liecester IOM (owned by Bco Santander).

They are very good.

socrates

So are these offshore accounts protected like the UK - £50k.

If the account is in joint names is it £50k per person named?

Would anyone suggest say putting £50k into some kind of gold product - either a certificate or bond or the like.

Basically they need some income, some tied up and some on a medium risk.

Any thoughts much appreciated

gozomark

protection - it depends on which offshore location it is

if you need income, gold is the worst thing to buy as it has no income, only capital gains or losses

socrates

gozomark wrote: »

protection - it depends on which offshore location it is

if you need income, gold is the worst thing to buy as it has no income, only capital gains or losses

I class the gold as the medium risk part of the portfolio I discussed

gozomark

I'd class it as high risk .....